IDEX Corporation acquires optical filter producer Semrock

27 October 2008

IDEX Corporation (NYSE: IEX) has announced the acquisition of Semrock, the leading provider of optical filters for biotech and analytical instrumentation in the life sciences markets, for about $60 million.

Semrock’s products are used in the biotechnology and analytical instrumentation industries. Semrock produces optical filters using state-of-the-art manufacturing processes which enable them to offer significant improvements in the performance and reliability of their customers’ instruments.

Headquartered in Rochester, New York, Semrock has annual revenues of approximately $21 million. Semrock will operate as a stand-alone business within IDEX’s Health and Science Technologies segment.

IDEX Chairman and Chief Executive Officer Larry Kingsley stated, “We are extremely pleased with Semrock’s decision to become part of IDEX. Semrock is well known for their quality optical filters for biotech and analytical instrumentation in life sciences. Their expertise enables the continued expansion of our core capabilities in integrated fluidic applications. The acquisition of Semrock extends our offerings to existing OEMs and provides us with significant access to new opportunities within the health and life sciences market.”

Mr. Kingsley added, “Inclusive of the recent acquisitions of Richter, iPEK, IETG and Semrock, we are adding approximately $130 million of revenue and approximately $33 million of EBITDA to our annual results.”

Semrock’s President, Victor Mizrahi, stated, “We are excited to become part of IDEX and its Health and Sciences Technologies segment. IDEX is a recognized leader within the health and science market and is well known for its broad fluidics platform and significant solution capabilities. We look forward to developing the resulting customer synergies.”

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